Citadel Theatre asks the city for loan to fix failing roof
The roof of the Citadel Theatre requires more than $4 million in repairs and theatre officials are hoping the city can loan it the bulk of the money.
The Citadel is the owner and operator of the building on the southeast corner of Churchill Square, and the city owns the land it sits on, according to two lease agreements signed in 1974 and 1981.
When the roof was installed it was expected to last for 25 years. Now, 33 years later, it’s in urgent need of repairs.
The theatre was able to successfully apply for about $1.4 million in city grant funding to put toward the work, but that money won’t be released until the theatre has secured money for the rest of the project. And so they’re turning to the city in hopes of borrowing the remaining $2.8 million.
Parts of the atrium already can’t be used, and the roof is in such a state that the theatre might have to start cancelling shows, Citadel board member Jeff Boadway told city council’s community and public services committee Wednesday.
“We have been maintaining the building for 40 years. We’re in the situation now where the dollar amounts exceed our ability to not ask for help, and not ask for a sustainability conversation,” Boadway said.
The Citadel’s current lease expires in 2024.
Boadway said the Citadel has done its fair share, even shouldering ongoing maintenance of the plant-filled atrium and pedway with LRT access, which he said is public space.
The city waters the plants in the indoor park, but when cockroaches became an issue, the cost of extermination fell to the theatre.
Coun. Scott McKeen, who represents the downtown area, said it’s “embarrassing” that such a long-standing institution has fallen into a state of disrepair.
“It’s one of the iconic buildings, and it’s too bad it got to that situation, but I’m happy now that we will resolve it,” said McKeen.
The loan being proposed would see the city borrow the cash for the theatre from the province. The loan to the Citadel would be on the same terms as what the city gets from the province.
The theatre has an endowment fund, which the city would like them to put up as security on the loan.
McKeen said there may be some apprehension, given what happened with Northlands and the now-vacant Coliseum, but he said the loan the Citadel is asking for would be an “in and out” transaction, and he said he has “full confidence” the theatre will be able to make repayment.
“We are sort of the bank of last resort, and we have to be really careful about that,” McKeen said.
Administration is going to craft a bylaw that would enable the city to make the loan and bring it back to city council on Feb. 26 for first reading.